West Virginia Code of State Rules
Agency 110 - Tax
Title 110 - LEGISLATIVE RULE STATE TAX DEPARTMENT
Series 110-21B - Citizen Tax Credit for Property Taxes Paid
Section 110-21B-7 - Calculation of Credit
Universal Citation: 110 WV Code of State Rules 110-21B-7
Current through Register Vol. XLI, No. 38, September 20, 2024
7.1. The definition of "taxes paid" requires that the amount subject to the credit be determined after application of any discount for early payment but before application of any penalty or interest for late payment.
7.1.1. W. Va. Code §11A-1-3 authorizes the payment of
ad valorem taxes in two installments. The first installment is payable on or
before September 1st and becomes delinquent on
October 1st. The second installment is payable on or
before the succeeding March 1st and becomes
delinquent April 1st.
7.1.2. Taxes paid on or before the date they
are payable are subject to a 2 1/2% discount. Delinquent taxes are subject
to accrued interest at the rate of 9% per year, and the accrued interest is
added to the delinquent taxes until the taxes plus interest are paid.
7.1.3. "Taxes paid" therefore is the amount
remaining either after the tax amount due is reduced by the application of the
discount or before the tax amount due is increased by the addition of any
interest or penalties.
7.2. Examples are found in the appendix to this rule.
Disclaimer: These regulations may not be the most recent version. West Virginia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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